A paycard is a reloadable prepaid (i.e., stored value) card issued to an employee through a national or regional bank, credit union, or savings and loan association on behalf of his or her employer for the receipt of wages and other compensation. Paycards are also referred to as "payroll cards" and "payroll debit cards."

Paycards bring the benefits of electronic wage payment to employees who are unable to participate in traditional direct deposit because they do not have a bank account.  Many employees with bank accounts also enjoy the convenience and flexibility offered by paycards.

Workers who participate in their employer's payroll card program can then access their wages via an ATM, an over-the-counter transaction at a bank branch or by using the cash back feature available at many point-of-sale terminals in stores.  Most payroll cards also can be used to make purchases at stores, online and over the telephone.  

An Employee's Guide to Payroll Cards (PDF)

Have Questions?

Consult the Frequently Asked Questions or FAQ.
Employee FAQ.